CBD Manufacturers cut costs, pass savings to consumers
Cranston, RI: Thursday, February 4, 2021
As the multi-billion-dollar CBD industry continues to grow in 2021, CBD producers are lowering their operating costs — and some are passing the savings on to consumers.
“We’re uncovering production efficiencies based on our experience in supply chain management,” says Alex Guarino, founder of the CBD wellness brand UPSY®. “Right now, most CBD is priced at a premium, but we don’t want to focus on short-term profits; we’d rather grow our customer base and introduce more people to the benefits of CBD.”
For the new year, Guarino’s company reduced the prices of all of its CBD products, some by as much as 40%. Consumers can visit the UPSY® website to view the lower pricing for its CBD tinctures, topical balms, and drink mixes.
“Our core motto is, when you’re able create better days for yourself, we believe you create them for many others. We hope this allows our products to be more accessible and, in turn, create better days for many more people.” says Guarino.
In the early days of the CBD industry, the demand for CBD products exceeded the capacity of suppliers, leading to high prices. Unclear regulations also made farmers hesitant to grow CBD-rich hemp. But, when regulators officially permitted hemp in 2018, CBD production scaled up. Today, the rising popularity of CBD shows no sign of abating and sales are expected to hit $1.8 billion in 2021.
Established in 2019 in Cranston, Rhode Island, UPSY® is a personal wellness brand that sources all of its ingredients and manufacturing in the USA. Their products are formulated using 100% purified, organic hemp that is rigorously lab tested for purity and potency. UPSY products are THC free, gluten free, and vegan friendly.
Find out more at upsy.com, and follow them on Facebook, Instagram, Twitter and LinkedIn.
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